664 employees reported this benefit
Lockheed Martin provides a 401(k) Savings Plan.
50% Employer contribution for the 401k plan
50% match and 3% on top of it
Matches up to 4% (at 50 %, so employees must contribute 8% to get the 4% match)
Similar to others - some funds have limited access
I saved $15k in my last year and LM gave me $9k !! Not really sure why I left.
High company contribution, up to 6% (2% outright, and matching employee contribution up to 4%)
I get 10% and I put in 8%
It is nice that they match up to 50% of your contribution since they got rid of the pension. Just keep praying the stock market only goes up.
Very lackluster funds in the 401k plan. High management fees and underperforming fund lineup. Plus you can invest in Company Stock which just took a 30% drop. They match a generous amount in the 401k plan, but you will lose it all to high fees and no returns on your investments.
Due to not having a pension, it could be better.